MUNICH, October 6 (RIA Novosti) - Bavarian businesses plan to invest more than 1.5 billion euros ($1.9 billion) in hotel construction in Moscow, bringing 4,000 guest rooms to the Russian capital, Bavarian Economics Minister Emilia Mueller said on Monday.
"According to data at my disposal, Bavarian companies have reached agreements to invest over 1.5 billion euros in 4,000 hotel rooms in Moscow," Mueller said at the opening of the Moscow pavillion at the 11th international exhibition Expo Real 2008 in the Bavarian capital, Munich.
She added that Moscow was being viewed as Russia's major tourist hub.
The minister did not disclose the names of Bavarian investors or any details of their business plans in Russia.
Moscow Mayor Yury Luzhkov said there were plans to build around 75 hotels in the city in the next few years, including 10 by Bavarian developers.
"Bavarian companies have been very successful in Moscow," Luzhkov said. "It is certain that their business contacts with Russian colleagues will be further strengthened."
